ELAC SONAR wins EUR49m contract for Italian Navy

COHORT PLC

(Cohort or the Company)

Contract Win

ELAC SONAR WINS SIGNIFICANT CONTRACT FOR ITALIAN NAVY'S NEW U212 NEAR FUTURE SUBMARINES

Cohort, the independent technology group, is pleased to announce that its wholly owned subsidiary ELAC SONAR GmbH ("ELAC") has received an order valued at over €49m from Leonardo S.p.A., a leader in the design and supply of systems for naval defence and maritime and coastal surveillance.

ELAC will provide sonar systems for two new U212 Near Future Submarines (NFS) being supplied by Fincantieri for the Italian Navy.  The contract also includes delivery of special test and training tools and associated technical services.

Work on the contract will commence immediately and will complete in 2030, it also includes options for two more U212 NFS submarines.

Andy Thomis, Chief Executive, said

"This is a major achievement for ELAC SONAR and its first major contract win since becoming part of Cohort in December 2020. Being selected to provide the complete submarine sonar suite for a European Navy of the first rank is a strong and visible endorsement of ELAC's world leading Sphere™ technology. We look forward to working with Leonardo and Fincantieri to create a capability for the Italian Navy that is unmatched on a submarine of this class.

"The contract is also a significant addition to the Group's order book and, together with other recent wins, enhances the visibility of future revenues."

ENDS

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NOTES TO EDITORS  

Cohort plc (www.cohortplc.com) is the parent company of six innovative, agile and responsive businesses based in the UK, Germany and Portugal, providing a wide range of services and products for domestic and export customers in defence and related markets.

Chess Technologies, through its operating businesses Chess Dynamics and Vision4ce, offers surveillance, tracking and fire-control systems to the defence and security markets. It was acquired by Cohort plc in December 2018. www.chess-dynamics.com & www.vision4ce.com

EID designs and manufactures advanced communications systems for naval and military customers. Cohort acquired a majority stake in June 2016.  www.eid.pt

ELAC SONAR supplies advanced sonar systems and underwater communications to global customers in the naval marketplace.  Acquired by Cohort in December 2020.  www.elac-sonar.de 

MASS is a specialist data technology company serving the defence and security markets, focused on electronic warfare, digital services and training support.  Acquired by Cohort in August 2006. www.mass.co.uk

MCL designs, sources and supports advanced electronic and surveillance technology for UK end users including the MOD and other government agencies. MCL has been part of the Group since July 2014. www.marlboroughcomms.com

SEA delivers and supports technology-based products for the defence and transport markets alongside specialist research and training services. Acquired by Cohort in October 2007. www.sea.co.uk

Cohort (AIM: CHRT) was admitted to London's Alternative Investment Market in March 2006. It has headquarters in Reading, Berkshire and employs in total around 1,000 core staff there and at its other operating company sites across the UK, Germany and Portugal.